Business News
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Textiles see decline while apparels boom | The Express Tribune
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[ad_1] KARACHI: Pakistan’s textile industry has experienced a significant decline in production, particularly in the cotton yarn and cotton cloth segments, resulting in a worrisome overall decrease of 26% year-on-year. In contrast, the apparel sector has witnessed remarkable growth, with…
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Pakistan gets LNG shipment offer as IMF deal bears fruit
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[ad_1] A file photo of a liquefied natural gas (LNG) tanker. — AFP In yet another major achievement after winning final approval to borrow $3 billion from the International Monetary Fund (IMF), energy crisis-hit Pakistan received liquefied natural gas (LNG)…
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Gold price in Pakistan jumps to Rs214,500 per tola
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[ad_1] A workers adds finishing touches to a gold bangle at his workshop. — AFP/File KARACHI: Gold rates in Pakistan rose on Friday, drawing support from the increase in international rates and the rupee’s depreciation against the greenback. The price…
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IMF says implementation of SBA crucial to Pak’s economic future | The Express Tribune
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[ad_1] The International Monetary Fund’s (IMF) Director of Strategic Communications Julie Kozack has said that “steadfast implementation” of the nine-month Stand-by Arrangement (SBA) was critical to Pakistan’s future. “Steadfast implementation is critical to address its large financing needs & support the most…
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We welcome IMF programme to support Pakistan: Blinken
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[ad_1] US Secretary of State Antony Blinken at a press conference at Ramstein Air Base in Germany on September 8, 2021. — AFP/File US Secretary of State Antony Blinken on Thursday urged the Pakistan government to continue working with the International…
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Gold rates see major increase in Pakistan
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[ad_1] A man stands behind a gold shop window in Istanbul. — AFP/File KARACHI: The rates of gold in Pakistan increased by Rs4,000 on Thursday in line with developments in the international market. The price of gold (24 carats) gained Rs4,000…
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ECC members air concern over high electricity cost | The Express Tribune
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[ad_1] ISLAMABAD: Economic policymakers have aired serious concerns over the high cost of electricity generation by K-Electric (KE) and sought a detailed plan to slash the production cost. During discussions at a recent meeting of the Economic Coordination Committee (ECC),…
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Inflows help rupee recover against USD in interbank market | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency improved by Rs2.14 to Rs275.34 against the US dollar in the interbank market on Thursday morning after the IMF executive board gave final approval for the $3 billion loan program for Pakistan. Market reports suggest…
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IMF board green-lights $3 billion SBA for Pakistan
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[ad_1] The seal for the International Monetary Fund is seen in Washington, D.C., Jan. 10, 2022. — AFP The International Monetary Fund (IMF) Executive Board on Wednesday approved a staff-level agreement reached with Pakistan on a short-term stand-by deal. “Today,…
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Global investors plan to pour $7.1b into Turkey | The Express Tribune
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[ad_1] ISTANBUL: Members of Turkey’s International Investors Association (YASED) are planning $7.1 billion of direct investment in Turkey in the next six months, Chairman Engin Aksoy said on Wednesday. There are other international companies that want to invest in Turkey…
